v3.25.2
Business Segments (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Statement of Operations and Total Assets by Reportable Segment
The following tables present the components of net income, as well as other supplemental information for Washington Trust’s reportable business segments:
(Dollars in thousands)Commercial BankingWealth Management ServicesConsolidated Total
Three months ended June 30, 202520242025202420252024
Total interest income and dividend income$78,846 $85,997 $— $— $78,846 $85,997 
Total interest expense41,661 54,412 — — 41,661 54,412 
Net interest income37,185 31,585 — — 37,185 31,585 
Provision for credit losses600 500 — — 600 500 
Net interest income after provision for credit losses36,585 31,085 — — 36,585 31,085 
Noninterest income6,720 6,651 10,358 10,009 17,078 16,660 
Noninterest expenses:
Salaries and employee benefits17,434 16,443 5,591 4,817 23,025 21,260 
Outsourced services3,374 3,115 1,030 981 4,404 4,096 
Net occupancy2,393 2,131 269 266 2,662 2,397 
Equipment855 877 75 81 930 958 
Legal, audit and professional fees525 633 201 108 726 741 
FDIC deposit insurance costs
1,235 1,404 — — 1,235 1,404 
Advertising and promotion601 564 116 97 717 661 
Amortization of intangibles— — 203 208 203 208 
Other expenses2,095 1,752 533 433 2,628 2,185 
Total noninterest expenses28,512 26,919 8,018 6,991 36,530 33,910 
Income before income taxes14,793 10,817 2,340 3,018 17,133 13,835 
Income tax expense3,283 2,342 605 678 3,888 3,020 
Net income$11,510 $8,475 $1,735 $2,340 $13,245 $10,815 
Supplemental Information:
Total assets at period end$6,683,840 $7,125,943 $61,327 $58,417 $6,745,167 $7,184,360 
Expenditures for long-lived assets388 1,598 13 22 401 1,620 
Depreciation expense (1)
790 893 86 103 876 996 
(1)Included in net occupancy and equipment expenses in the table above.
(Dollars in thousands)Commercial BankingWealth Management ServicesConsolidated Total
Six months ended June 30, 202520242025202420252024
Total interest income and dividend income$158,309 $171,253 $— $— $158,309 $171,253 
Total interest expense84,702 108,003 — — 84,702 108,003 
Net interest income73,607 63,250 — — 73,607 63,250 
Provision for credit losses1,800 1,200 — — 1,800 1,200 
Net interest income after provision for credit losses71,807 62,050 — — 71,807 62,050 
Noninterest income 19,355 12,223 20,366 21,600 39,721 33,823 
Noninterest expenses:
Salaries and employee benefits34,413 33,013 11,034 10,022 45,447 43,035 
Outsourced services6,639 5,963 2,111 1,913 8,750 7,876 
Net occupancy4,864 4,437 539 521 5,403 4,958 
Equipment1,670 1,778 151 200 1,821 1,978 
Legal, audit and professional fees1,052 1,223 424 224 1,476 1,447 
FDIC deposit insurance costs
2,497 2,845 — — 2,497 2,845 
Advertising and promotion949 1,030 178 179 1,127 1,209 
Amortization of intangibles— — 407 416 407 416 
Other expenses8,974 3,663 2,824 846 11,798 4,509 
Total noninterest expenses61,058 53,952 17,668 14,321 78,726 68,273 
Income before income taxes30,104 20,321 2,698 7,279 32,802 27,600 
Income tax expense6,630 4,248 748 1,601 7,378 5,849 
Net income$23,474 $16,073 $1,950 $5,678 $25,424 $21,751 
Total assets at period end$6,683,840 $7,125,943 $61,327 $58,417 $6,745,167 $7,184,360 
Expenditures for long-lived assets475 2,156 14 90 489 2,246 
Depreciation expense (1)
1,598 1,786 172 212 1,770 1,998 
(1)Included in net occupancy and equipment expenses in the table above.